Modern virtual reality is still in its infancy, and social networking company Facebook hopes its $2 billion acquisition of Oculus VR will help usher VR technology into the future. The buyout initially raised alarm, but news also excited virtual reality supporters, anxious for large companies and mainstream users to pay attention to the budding technology.

The Facebook team has been left intact and the social media company doesn't plan to rebrand Oculus VR - or the company's Oculus Rift - which could be made available to consumers before the end of the year.

Facebook's acquisition of Oculus immediately raised concern, though company founder Palmer Luckey previously addressed the issue. Keeping the company at its Irvine office in southern California allows Facebook-owned Oculus to remain close both to video game studios and Hollywood.

It's not just Oculus, but other VR startups are trying to determine whether they want to open up shop in Silicon Valley, or head to Los Angeles:

"Being so close to Hollywood and having such a strong network in the film industry and the games industry, it's really a fantastic place to explore a whole new medium," said James Iliff, Survivos co-founder, a SoCal startup manufacturing VR hardware and software.